Ferrari technical director James Allison says his team is now in a position to be "properly competitive" as it targets its first championship victory since 2008 this season.
The team has undergone major changes in the last two years, with Allison leading an overhaul of the chassis and engine departments at Maranello. He admits the team was not a championship contender when he joined in 2013, but is confident it has upped its game to compete with the very best.
"I think it's fair to say that back in 2013 Ferrari was not at the right level - not at championship level - in terms of anything apart from maybe doing pit stops very quickly. So we didn't have enough power in 2014, we didn't have enough downforce, kinematics on our suspension were not ideal and our packaging left a lot to be desired as well.
"We've worked very hard - the whole team has worked very hard - on all those areas. Last year was a decent step forward, and we hope that this car will be another good step forward, another step to make us properly competitive.
"But it isn't true to say that one area has done any better than any other area. We've improved across the board; horsepower, downforce, handling, everywhere. And all our hopes are in this car and I think we're very proud of what we've done and we can't wait to see it running on the track."